BDT closed 2024 as the entity with the highest growth in financial intermediation in the country
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Published at: 22/01/2025 11:18 AM
The Workers' Digital Bank (BDT) closed 2024 as the entity with the highest growth in financial intermediation in the entire country's system.
According to analysis figures from the consultancy firm Aristimuño Herrera & Asociados, the state entity had an intermediation of 59.84% in December, higher than the average of the banking system, which is the result of an increase of 30.4 percentage points compared to the same month of 2023. The variation far exceeded the system's average increase of 8.02 points.
These results were driven by an annualized increase of 351.1% in the loan portfolio (the second highest variation in the system), which culminated in 6,827 million bolivars, an amount that represents 5.4% of the market share and gives it sixth place in the overall ranking (two places higher than a year ago), reports Banca y Negocios.
It also indicates that the increase in currency was 212% more than at the end of 2023. While the BDT delinquency rate ended 2024 at 0.97% and was below the system average of 1.16%.
According to figures from the consulting firm Aristimuño Herrera & Asociados, BDT's loan portfolio contributed 23.4% of its total revenues (9 percentage points more than at the end of 2023), while other operating revenues (services) accounted for 67.7% of the total.
The BDT is one of the seven banks that ended 2024 with the highest cumulative profit, with a net result of 340.4 million bolivars (8.8 million dollars), an annualized growth of 2% and ranked seventh in the ranking of this category.
The financial revenues achieved by the bank totaled 1,627.1 million, an increase of 147.8%, a result that allowed it to move from position 9 to 7 in the ranking of the system in that category. In dollars, the amount translated into 42.2 million (85.4% more than a year ago).
In the second half of last year, the bank recorded improvements in its profitability, culminating in a return on equity (ROE) of 16.1% (4.9 points higher than in June) and a return on assets (ROA) of 2.3% (0.5 points more than in the middle of the year).
The assets of the Workers' Digital Bank grew 53.6% in 2024, at the end of the year by 3,271 million bolivars (62.8 million dollars, an increase of 6.2% in this currency), while its assets rose to 20,230.4 million bolivars, an annualized increase of 92.7%. In dollars, the amount is equivalent to 388.8 million, for an increase of 33.2%.
This result places it as the seventh largest bank in the country, in the asset and asset categories, with market shares of 2.6% and 3.5%, respectively.
Mazo News Team